KUALA LUMPUR (Feb 12): Bank Negara Malaysia (BNM) said today the ringgit's performance in 2020 will continue to be influenced by external developments including the US-China trade deal and coronavirus (Covid-19) outbreak.

In a statement today, BNM said that while the phase one trade deal between the US and China contributed to an improved outlook on global trade, investor sentiments are also affected by concerns over the recent coronavirus outbreak.

"As a result, the ringgit depreciated by 1.3% against the US dollar this year up to Feb 10, amid weaker sentiments in global financial markets," BNM said.

At 12:05pm today, the ringgit weakened to 4.1365 against the US dollar. The exchange rate so far today was between 4.1285 and 4.1365.

For 2019, the central bank said the ringgit appreciated 2.3% against the US dollar in the fourth quarter, supported mainly by the resumption in non-resident portfolio inflows.

BNM said this was due to improved investor sentiments following positive developments on global trade negotiations.

"Synchronised policy rate cuts by several major central banks also contributed to the improvement in global investor risk appetite during the quarter. As a result, for 2019 as a whole, the ringgit recorded an appreciation of 1.1% against the US dollar, in line with the trend of regional currencies," it said.